Coalition backs more $$ for SEC
Bravo to the Financial Planning Coalition, which is backing legislation that would raise fees for investment advisers to increase the “dangerously low” number of exams the Securities and Exchange Commission currently conducts. The best way to protect consumers is to beef up examinations – which should be targeted at the riskiest of operations: For example those that don’t use third-party custodians, those that take custody of client assets and those that buy or sell securities they own to their clients.
